Capterra Glossary
Digital Business Transformation
Digital business transformation is a strategy that a business develops to remain competitive in a digital economy. While specific strategies will vary from one company to the next, most practices involve automating certain tasks with machine learning or artificial intelligence (AI) or delving deeper into the customer experience. Some examples of digital business transformation strategies include transferring paper files to digital ones, adding self-service portals, using customer service chatbots, or engaging with customers through social media platforms.
What Small and Midsize Businesses Need to Know About Digital Business Transformation
Nearly all SMBs and enterprise-level establishments are currently in the process of a digital business transformation. It is rare in today’s tech-savvy world for a company to operate without the use of any digital solutions, but it is crucial to identify the specific needs and goals of each business before embarking on this journey. For most SMBs, a digital business transformation can lead to improved performance, reduced costs, and a better customer experience.